Retractable panel fasteners are well-known in the art and include a screw which is biased in a retracted position by resilient means acting between the underside of the head of the screw and the top of the ferrule element which is affixed to a first panel. The resilient means is usually a metal coil spring. When it is desired to extend the threaded end of the screw so that, for example, the first panel may be threadably affixed to a second panel, the screw is extended against the force of the spring and turned to affect the threaded engagement with female threads on the second panel.